Cannabis Stocks for a Potentially Huge ‘Blue Wave’ Catalyst The long overdue pot boom could finally start in late 2020 with Biden winning the White House
First on this list of cannabis stocks to buy, we have the industry’s largest company, Canopy Growth.
There are many reasons to like Canopy Growth long term. Most of them boil down to one thing: Canopy Growth has $2.4 billion on the balance sheet, which is an order of magnitude more cash than pretty much every other cannabis company out there.
Why is that so important?
Because in early-stage, emerging industries on the cusp of entering the hypergrowth phase, more money is everything. More money enables Canopy to make more investments in more geographies, and gain more high-value exposure to various different parts of the cannabis market, which in turn allows the company to establish early leadership across various geographies (like Europe and America) and product verticals (like edibles and vapes). That early leadership will give Canopy a significant “leg up” when it comes to dominating those various geographies and product verticals at scale.
Essentially, by having the most money in the cannabis industry, Canopy Growth has the most visibility to long-term cannabis market dominance.
To be sure, having all these resources has not saved CGC stock from the cannabis market demise over the past few years. In late 2018, this was a $50 stock. The GCC stock price today sits below $20.
But the series of false starts in CGC stock have been due to a lack of sustained growth in Canada, delays in U.S. legalization, and mismanagement of the business. All three of those headwinds will likely be fixed in 2021, and as they do get fixed, CGC stock could take off like a rocket ship.
https://investorplace.com/2020/11/3-cannabis-stocks-to-buy-for-a-potentially-huge-blue-wave-catalyst/